Medical Office Suite with
For Sale
$399,000
20508 SW ROY ROGERS Rd, Sherwood, OR 97140
CommercialSale, Sherwood, OR
Property Size1,853 SF
Lot Size2.16 Acres
Price / SF$215.33
Days on Market576
Property Features for 20508 SW ROY ROGERS Rd
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
GC
Directions
99W to SW Roy Rogers Rd
Subdivision
_151
Standard status
Active
APN
R2150331
Size
1,853 SF
Lot size
2.16 Acres
Taxes and HOA fees
Tax Description
HUNTERS RIDGE CONDO SUPP NO.2: ANNEX STG 2, LOT 118
Tax Annual Amount
7344
Legal Description
HUNTERS RIDGE CONDO SUPP NO.2: ANNEX STG 2, LOT 118
Utilities
Heating system
Forced Air
Cooling system
Central Air
Building Details
Year built
2006
Floors in Building
1
Listing Agency:
eXp Realty, LLC
(888) 814-9613
Listed By:
Stephen FitzMaurice
(503) 939-8231
Added: Jan 27, 2025
Changed: Aug 25
Last Checked: Aug 26 at 9:06AM
MLS# 161120291
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 1,853-square-foot medical office suite includes multiple rooms, with sinks in most of them, supporting healthcare, therapy, or general office operations. The flexible interior arrangement can accommodate a range of professional configurations, while forced-air heating and central air conditioning provide year-round climate control. The building was constructed in 2006.
The property is located in Sherwood, Oregon, with access to local amenities and Pacific Highway. Two deeded parking spaces are included for tenant and client use. The underlying property encompasses 2.16 acres and carries GC zoning.
The property is located in Sherwood, Oregon, with access to local amenities and Pacific Highway. Two deeded parking spaces are included for tenant and client use. The underlying property encompasses 2.16 acres and carries GC zoning.
Key Highlights
- 1,853‑square‑foot medical office suite
- Multiple rooms, most equipped with sinks
- Two deeded parking spaces included
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$26,270
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.58%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$525,400
$525.4K
Cap Rate 7%
$375,286
$375.3K
Cap Rate 9%
$291,889
$291.9K
Market Conditions
NOI Build-Up for 1,853 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$48.9K $26.40/SF
− Vacancy
−$5.1K −$2.77/SF
EGI
$43.8K $23.63/SF
− OpEx
−$17.5K −$9.45/SF
NOI
$26.3K $14.18/SF
Area
Washington County, OR
Vacancy
10.50%
Lease Rate
$26.40 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$525,400
Cap Rate 7%
$375,286
Cap Rate 9%
$291,889
Alternative Uses
Best Use
Healthcare Medical
$375.3K
$328.4K – $437.8K
NOI $26,270 @ 7.0% cap · market cap 6.58%
Second Best
Office B
$342.7K
$299.8K – $399.8K
NOI $23,987 @ 7.0% cap · market cap 6.01%
Theoretical Best
Office A
$500.2K
$437.7K – $583.5K
NOI $35,012 @ 7.0% cap · market cap 8.77%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
766
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 97140, OR
28,365
Population
9,540
Households
3
Avg Household Size
38
Median Age
48%
College-Educated
95%
High-School Grad
44.6 sq mi
ZIP Area
636
Density / Sq Mi
$119,241
Median Household Income
$58,718
Median Earnings
$1,934
Median Rent
$618,000
Median Home Value
Market
Vacancy Rate% for Office in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Flexible professional suite with multiple treatment or office rooms, dedicated parking, and central air conditioning.
Where is this medical office space located?
The property is located at 20508 SW ROY ROGERS Rd Sherwood, OR.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 1,853‑square‑foot medical office suite; Multiple rooms, most equipped with sinks; Two deeded parking spaces included
